Simplex Castings: No deviation in ₹21 Cr Preferential Issue fund use

Simplex Castings Limited confirmed no deviation or variation in the utilization of funds raised through its Preferential Issue for the quarter ended March 31, 2026. Pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company reported that the ₹20.75 crore raised on March 28, 2026, and ₹0.25 crore raised on March 31, 2026, totaling ₹21.00 crore, were utilized as per the objects stated in the EGM Notice. The funds were primarily intended for working capital requirements and to cater to Railway Bogies and long-term Power Sector Fabrication Work. The Audit Committee reviewed the statement and found no deviation or variation. The company noted that the funds raised have not been fully utilized for the stated purposes as of the quarter end.